Gold Analysis (fxempire)
Gold Price (sell or buy?)
Gold markets fell during the course of the session on Wednesday, but found a little bit of support below to form a minor hammer. That being said, we believe that a break above the $1220 level is reason enough to start buying short-term moves to the $1240 level. That level should be rather resistive though, so this is definitely a short-term opportunity. On the other hand, we break down below the $1200 level, we could go as low as $1180 and the very short-term. Regardless, expect a lot of volatility in the gold markets of the next couple of sessions.